2022 GMV tops 154 mil USD (200 bil KRW) with 88% increase in revenue. Successfully penetrated the South Korean market for digital transformation in the hotels and resorts sector. 2023 is the year of international expansion, helping hotels in Southeast Asia hotels digitally transform their business and attract Korean tourists.
SEOUL, SOUTH KOREA – Hospitality tech startup ONDA’s 2022 GMV tops 154 mil USD (200 bil KRW). ONDA reached a Gross Merchandise Value (GMV) of over 154 mil USD (200 billion KRW) in 2022, a 100% increase from 2021. Net sales increased 88% year-over-year to 9.2 mil USD (12 billion KRW).
ONDA reported that it sustained its explosive growth last year by focusing on the digital transformation of hotels and resorts in Korea.
Within a year of entering the hotel business in late 2021, ONDA’s share of total hotel transactions surged to 30%. Resort transactions more than tripled, as ONDA’s core business successfully expanded from small and medium-sized properties to larger properties such as hotels and resorts.
ONDA’s growth is also supported by strong partnerships with global sales channels such as Google, Trip.com, and Home & Villas by Marriott Bonvoy. ONDA’s core business is its integrated sales system, ‘ONDA HUB’. As the largest global sales network in Korea, it distributes hotels and accommodations through more than 40 domestic and international channels, with over 800,000 transactions processed annually.
In particular, with global OTA channels like Airbnb and Agoda experiencing a 95% year-over-year increase in transactions last year, it is anticipated that there will be further growth in 2023 as international inbound travel resumes.
Direct to customer (D2C) transactions, which connect travelers directly with properties, also increased by 47% in 2022, helping hotels and small and midsize properties sell rooms at lower commissions.
This year, ONDA will not rest with the domestic hospitality market, but will focus its efforts on becoming a key driver in the digital transformation of the global hospitality industry. ONDA PMS ‘Dive’, which has been successfully operating in premium hotels in Korea, has now begun to be supplied to international markets.
Hyun-seok Oh, CEO of ONDA said, “As we’ve expanded into the global marketplace, we’ve seen more international hotels and properties turn to ONDA.” He added, “ONDA will continue to enhance its offerings to support hotels and accommodations in operating efficiently, both in domestic and international markets.”
ONDA is a hospitality tech and data company that commands around 70% of the domestic online accommodations bookings market. It has built strong partnerships with global big tech companies, including becoming the first Airbnb Preferred Partner and the first Google Hotel partner in Korea.
Last year, ONDA was selected into “The Baby Unicorn Project” by the Ministry of SMEs and Startups, and was ranked in the Financial Times list, “Asia-Pacific High-Growth Companies” for the second consecutive year in 2022-2023. In Skift’s “Global PMS Vendor” list, a renowned U.S. travel research company, ONDA ranked 34th, becoming the first Korean company to do so. With such significant strides, ONDA is on track to become a leading player in the global hotel tech market.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.